Group managing director Tan Sri Syed Zainal Abidin Syed Mohamed Tahir said the FPSO would be deployed at the Avalon Development.
KUALA LUMPUR: Dagang Nexchange Bhd
(Dnex), via its subsidiary Ping Petroleum UK PLC, has renamed its recently acquired floating production storage and offloading (FPSO) vessel to Excalibur.
Group managing director Tan Sri Syed Zainal Abidin Syed Mohamed Tahir said the FPSO would be deployed at the Avalon Development.
“We are proud to be the new asset owner and ready to progress in our maiden greenfield upstream project, starting on a clean slate in line with Dnex’s and Ping’s growth strategies.
“Representation from Dnex being present at the event demonstrates the group’s continued commitment in the project. Dnex and Ping are upbeat about the prospecst of Avalon Development,” Syed Zainal said in a statement.
He said the next step would be to retrofit the FPSO with electrification capability, supported by a dedicated floating offshore wind turbine that is purpose-built for the Avalon’s requirement.
“The Excalibur can set the benchmark for a greener upstream operation with the deployment of a wind turbine technology that powers the entire production facility.
“This is a significant milestone for the Avalon Development and timely as we progressively move forward with the energy transition,” he said.
